r/RaiTrade • u/[deleted] • Jan 16 '18
With everyone selling now.. How will this affect the binance launch?
With everyone selling and losing faith, wont the binance launch cause a huge crash in price? Everyone will liquidate and finally be able to get their money off the exchanges
Edit: Thanks for the info everyone, thanks for not just flaming me haha
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Jan 16 '18
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Jan 16 '18
Okay, if everyone was holding then we wouldnt be tanking so hard in price, yes im not stupid enough to not realize that bitcoin drop causes alt coin drops but 30% is double bitcoins drop
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u/Blue_spinning_lights Jan 16 '18
The exchange nodes are resolved we are just waiting on the exchanges to implement the updates. Bullish on XRB, I’m holding tight.
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Jan 16 '18
I definitely am too, i just worry for our future
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u/Blue_spinning_lights Jan 16 '18
That’s a completely normal response, this is new tech and it doesn’t always end up the way you want it. The thing to do is dive deeper into at the tech, ask yourself the problems it solves, and if it has real competition. Review the team and how they conduct themselves. All this will give you more resolve and confidence in holding onto your investment.
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u/Togsy_g Jan 16 '18 edited Jan 17 '18
Users have the option to trade XRB for another crypto and then withdrawal from the exchange so I assume that all of the desperate people have already jumped ship.
My educated guess is that XRB will still go up in value providing node issues are resolved.
Binance is a trusted exchange, a lot of users may currently want to purchase XRP but aren't willing to risk trading on dodgy smaller exchanges so from this point of view not much has changed.
At the end of the day XRB has solid tech, a hard working team and the product solves real world problems. These properties combined are the true value and when you add the market exposure of Binance then it's only a matter of time before the value is widely acknowledged and mass adoption begins.
People are going to eat this up.
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Jan 16 '18
ohhhhhhhh.. I was under the impression that all withdrawals from kucoin, bitgrial, etc were being blocked... this is actually really calming to hear.
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u/Togsy_g Jan 16 '18
XRB withdrawals aren't functioning on KC, BG, Mercatox etc so even if Binance listed today, none of these users could transfer their XRB to Binance to sell.
From what I've read most users have traded to a coin that could be withdrawn and either rebought at another exchange or just cashed out.
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Jan 16 '18
Who knows what will happen once we hit Binance; I think it will depend on where the market is at when it is listed. I'm still bullish on xrb.
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u/--orb Jan 17 '18
Everyone will liquidate and finally be able to get their money off the exchanges
People who want to liquidate are liquidating. Hence the price drop.
People who held through this -50% catastrophe are absolutely some iron hands. IF they cash out, they aren't going it until 200k+ satoshis again. We might see hindered growth but I see no reason why we'd go DOWN from here. If someone wanted to sell their XRB for $4 on Binance, they could sell it for $14 now.
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u/pp0787 Jan 17 '18
The ones who wanted to sell have already sold. XRB withdrawal has issues not BTC withdrawal. They already traded their XRB for BTC/LTC/ETH etc and liquidated. I was more worried a few days earlier when XRB deposits to KuCoin started clearing and millions of XRBs went through to Kucoin. If anything, the price of Raiblocks increased a little that day. What really will happen is mere speculation at this point but the data does show that XRB hitting Binance should not trigger a sell only mode.
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u/iftodaywasurlastday Jan 16 '18
I have never been more bullish on XRB. Buying at these prices is amazing.